Prime Minister Prayut Chan-o-cha has finally announced that a general election will be held in November next year after a week of confusion, though he has still not pinned down an exact date.
Gen Prayut's announcement resulted in a jump in the Thai stock market which broke through 1,700 points Tuesday, for the first time in 24 years.
Speaking after a joint meeting of the cabinet and the National Council for Peace and Order (NCPO) on Tuesday, Gen Prayut said he will announce the exact date of the election in June next year with the target being November 2018 -- the most precise schedule he has given yet for the vote since seizing power in the 2014 military coup d'etat.
- Earlier report: Prayut promises vote in November 2018
Gen Prayut has announced election dates at least three times in the past, only to push them back later, citing concerns such as changes to the constitution and security issues.
"I don't want to delay. Around June 2018, we will announce the date for the next election. In November we will have the election. It is clearer now,'' Gen Prayuth told reporters at Government House.
"Politicians and political parties should remain calm as this will have an impact on decisions to ease restrictions," Gen Prayut said.
Gen Prayut previously said he would announce an election date in November next year, implying that the election would be held in 2019.
A cabinet source said that the prime minister decided to make the announcement himself to ensure clarity in the election schedule.
With the final two organic bills -- one on the election of MPs and the other on the Senate -- being tabled with the National Legislative Assembly (NLA) next month, the way is paved for a poll late next year.
The NLA will have three months to deliberate the bills and another three months will be needed for administration, leaving the process complete by May, if all goes to plan. Five more months will be needed for preparations for the election itself which will be held in November 2018, the source said.
The Stock Exchange of Thailand (SET) Index closed the morning session at 1,688.69 points, down 3.53. But it jumped more than 14 points immediately after the market opened in the afternoon to break 1,700 points due to the election schedule announcement.
The index closed Tuesday at 1,706.95 points, up 14.73 points or 0.87%, in trade worth 81.46 billion baht.
Such clarity is a positive factor and has revved up investor confidence, said Terdsak Taweethiratham, senior executive vice-president at Asia Plus Securities.
Gen Prayut, also leader of the NCPO, said the meeting has also acknowledged the promulgation of the organic law on political parties. The regime will now consider easing political restrictions so parties can resume their political activities in compliance with the new law, he said.
The organic law on political parties took effect on Sunday after it was royally endorsed and published in the Royal Gazette the previous day.
Pheu Thai key figure Chaturon Chaisaeng said he gave no credence to Gen Prayut's words. The prime minister's latest announcement was to ensure the schedule corresponds with what he said while on his visit to the US, Mr Chaturon said.
"He has announced election dates several times before, but postponed them later. This time, he has made the announcement probably because he may be under a lot of pressure after he said one thing to the US, and another thing when he came back to Thailand," Mr Chaturon said.
Gen Prayut may come up with any reason to defer the election again in the future, Mr Chaturon said.
He also criticised the NCPO for failing to lift the ban on political parties even after the organic law was enacted. The regime's inaction will prevent parties from making preparations for the poll, Mr Chaturon said. "They don't want a meaningful election to take place and they don't want political parties to play an active role. That's why they try to procrastinate ... if they are certain they will come back to power again after the election, the NCPO should allow an election to take place," Mr Chaturon said.
However, former Democrat Party MP Wirat Kanlayasiri said Gen Prayut's clarity about the election schedule was a positive development. "The prime minister's announcement about the more precise election schedule will now clear up any lingering doubts and the public will see the light at the end of the tunnel after having waited for the poll for a long time," Mr Wirat said.
Mr Wirat, the Democrat Party's chief legal adviser, noted the organic law on political parties is designed to prevent party financiers from wielding influence. Thai politics should be better off if those who hold parties' purse strings are kept at bay, Mr Wirat said, adding that Thai politics has been controlled by party financiers for a long time.
He also said the Democrats can wait for the NCPO to lift political restrictions, though the regime should be aware that the organic law on political parties stipulates specific time frames for parties to handle their internal affairs ahead of an election, such as a requirement for parties to compile a party membership database within 90 days.
Parties also need time for primary votes to select potential candidates for the next election, Mr Wirat said. The NCPO should consider easing political restrictions to at least allow parties to hold meetings to select party executives, he said.
(Additional reporting by Nuntawun Polkuamdee)
